Whitecap Resources (TSE:WCP) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Whitecap Resources Inc. stock price has crossed above its 200-day moving average, trading at C$11.13 after reaching a high of C$11.15.
• Analyst ratings have been positive, with target price increases from institutions like National Bank and Raymond James, resulting in an average target price of C$13.57.
• The company announced a $0.0608 dividend to be paid on October 15th, with a payout ratio of 49.97%.

Whitecap Resources Inc. (TSE:WCP - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.19 and traded as high as C$11.15. Whitecap Resources shares last traded at C$11.13, with a volume of 13,566,421 shares trading hands.

Analyst Upgrades and Downgrades

WCP has been the topic of several recent research reports. National Bankshares increased their price target on Whitecap Resources from C$14.50 to C$15.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Scotiabank raised Whitecap Resources from a "sector perform" rating to an "outperform" rating and set a C$12.00 price objective on the stock in a research report on Thursday, May 22nd. Desjardins raised shares of Whitecap Resources from a "hold" rating to a "buy" rating and increased their target price for the company from C$12.00 to C$12.50 in a research report on Tuesday, August 26th. Finally, Raymond James Financial increased their target price on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$13.57.

Whitecap Resources Price Performance

The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The firm's 50-day moving average is C$10.25 and its 200-day moving average is C$9.21. The company has a market capitalization of C$13.47 billion, a P/E ratio of 7.49, a price-to-earnings-growth ratio of -0.33 and a beta of 0.74.

Whitecap Resources Dividend Announcement

The company also recently announced a sep 25 dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.0608 dividend. Whitecap Resources's dividend payout ratio (DPR) is presently 49.97%.

Insider Activity at Whitecap Resources

In other news, Director Grant Bradley Fagerheim purchased 15,000 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were acquired at an average price of C$9.43 per share, with a total value of C$141,450.00. Insiders own 0.84% of the company's stock.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap's Canadian assets.